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PayU acquire Indian Payment Giant BillDesk for $4.7 billion

1Sep By NitishNo Comments

ACQUISITION

PayU acquire Indian Payment Giant BillDesk for $4.7 billion

Mumbai, 1st Oct 2021: In one of the biggest deals in the Indian consumer internet space, global player Prosus NV on Tuesday said its fintech business PayU will buy digital payments provider BillDesk for USD 4.7 billion With the deal, the Netherlands-incorporated Prosus NV's investment in India will jump to more than USD 10 billion. The PayU-BillDesk transaction, which is subject to approval from the Competition Commission of India (CCI), is expected to close by early 2022, Prosus Group CEO Bob van Dijk told reporters during a briefing. "The combination will create a leading digital payments company in India and globally, and it is exceptionally well-positioned to expand deeper into the Indian fintech ecosystem as more and more Indian customers move from cash to digital transactions,...

Visa Acquires Minority Stake in an Indian Payment Gateway Firm

17Nov By Gauri SinghNo Comments

News

Visa Acquires Minority Stake in an Indian Payment Gateway Firm

The popular US-based payments processor Visa is acquiring a minority stake in Mumbai-based BillDesk. This acquisition will make BillDesk the newcomer in India’s Unicorn club of private technology companies valued at over $1 billion. The financial details of the deal were not disclosed, however, it is expected to value the 18-year-old company at $1.8 billion. The transaction involves a primary investment of about $200 million with a secondary purchase of shares from existing investors and founders of $80-100 million matter. This could take the total investment to about $300 million. Visa’s investment in help BillDesk develop new product lines for its payment and loyalty businesses and expand its footprint into other geographies, according to a statement from Visa. The investment wi...

American Digital Payment Giant May Invest in BillDesk at Valuation of 1.5 -2 Bn

25Jun By NitishNo Comments

News

American Digital Payment Giant May Invest in BillDesk at Valuation of 1.5 -2 Bn

U.S. based digital payment giant Visa is in the final stage of discussion to invest over $250 million in the Mumbai headquartered payments gateway company BillDesk. The investment is likely to value BillDesk at around $1.5-2 billion, according to people familiar with the matter. The investment will give the coveted unicorn status to the eight-year-old Fintech startup. Sources claim that BillDesk’s management has decided to call off discussion on strategic sale and has now settled for raising more funds. Sources further claimed that the funding will be a combination of primary and secondary transactions. “The deal is in the final stages of completion, it’s the valuation which is being negotiated,” a person on the condition of anonymity said. He added that the management is trying v...

29Mar By Sheldan RungasamyNo Comments

News

BillDesk Looking to Sell For $2 billion

BillDesk, a payments gateway is looking to sell its company as the company’s private equity investors want to leave the company due to an overall growing interest of investing in payments market, according to reports. Those investors include private equity companies TA Associates and General Atlantic and venture capital firm Clearstone Venture and government held Singaporean company Temasek Holdings. BillDesk has already contacted three potential buyers in the name of PayU, American Express and PayPal but refused to sell the company below their asking price, which stands between $1.5-2 billion. A price that none of the above-mentioned companies is ready to meet and all three deals fell through due to valuation disagreements. BillDesk decided to keep operating independently until and unl...

Billdesk Revenue at INR 520 Cr in FY15-16, Profit Soars Up to 76 Cr

18Feb By NitishNo Comments

ANALYSIS, News

Billdesk Revenue at INR 520 Cr in FY15-16, Profit Soars Up to 76 Cr

Billdesk, one of India’s earliest online payment gateway solution providers, has reported a revenue of INR 520 Crores in FY15-16 with a PAT of INR 76 Crores. According to the webaite Tofler, Billdesk is one of the popular payment gateways used by online merchants and you must have spotted the name while making a payment online. INDIAIDEAS COM LIMITED, which owns and operates Billdesk, reported its 2015-2016 financial result, and its annual revenue at INR 520.2 Crores, is the highest in the company’s history. Billdesk was estimated to have 70% of the online billing market in India back in 2015. It competes with other billing aggregators like Citrus Payment Solutions, CCAvenue etc. However, with the advent of Payment Banks, BBPOU and UPI amidst the demonetization frenzy, which is yet ...

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

27Nov By No Comments

News

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

Born out of a requirement of higher online payment success rate, Citrus is a key player in the Payment Gateway industry. It competes with major players like BillDesk, TechProcess, CCAvenue, etc. Citrus was co-founded by Satyen Kothari and Jitendra Gupta in 2011. It is engaged in the business of payment processing for credit cards, debit cards, bill payments, prepaid cards and all other kinds of payment instruments. The company has secured funding from Sequoia Capital and Ascent Capital. In this article, Tofler takes a look at their financial performance in FY 14-15. Founded in 2011 Turnover in FY14-15 INR 38 CR Expenses FY14-15 INR 53 CR FINANCIAL PERFORMANCE OF CITRUS PAYMENT The company earned a revenue of INR 38 crores in FY 2014-15 as a...